Tag: Exploration and Development

In May 2016, the Company executed a letter of intent to acquire up to 10 mineral concessions covering 16 known Lithium, Potassium and Boron-rich salars located in the States of Zacatecas and San Luis Potosi, Mexico. Upon review of the technical data including a property examination by the Company and its advisors, the Company elected to acquire 4 large concessions containing the 7 top priority salars which include Caliguey, La Doncella, Colorada, La Salada, Santa Clara, Saldivar and Chapala and several smaller earlier-stage salars. The Company selected these salars due to their attractive lithium, potassium and boron values from limited shallow sampling of the unconsolidated material down to a depth of five metres. Of particular interest is the La Salada salar where preliminary and unaudited analyses of samples from the southern half of the salar returned grades frequently exceeding 1500 mg/l with occasional values over 2000 mg/l lithium, 8% potassium and 60 mg/l boron. The depth and grade beneath 5m is unknown at this time but preliminary geophysical surveys indicate a possible depth of 70 metres.

Telson Resources Inc. announces that it completed the collection of its 2,000 tonne industrial scale bulk sample from the El Creston zone on its Tahuehueto Project during the last week of September 2016. The bulk sample is in the process of being shipped to the Andes Mill where processing is scheduled to commence within the next week in order to produce saleable lead and zinc concentrates. Based upon previous metallurgical testing conducted in 2010, the Company anticipates the significant gold content contained within the mineralization of the bulk sample to report to and be recovered within, the lead concentrate.

Rafael Gallardo, Senior Geologist of Minera Cascabel S.A. de C.V., who is leading the drill program, commented, “the results encountered from drill holes 2 and 3 show that Au-Ag mineralization is being encountered near surface and the mineralized structure is open at depth and along strike at La Nueva Victoria.”

“A renewed focus on reserve and resource definition at Mercedes has resulted in a 20% increase in Proven and Probable reserves between December and June. This is a result of excellent work by the professional Management team at site” commented Premier President & CEO Ewan Downie. “Premier is now in place as a fully-engaged mine operator and we will continue to seek to grow reserves and resources by maintaining an aggressive exploration and development effort.”

Pete Dougherty, President and CEO commented: “The results of the drill program are very encouraging as they not only show confirmation of the known resource but also show greater widths and higher grades which bolster our excitement about the upside at La Colorada as we look to start mining the El Creston pit later this year.”

GOLDCORP INC. today announced a controlled shutdown of operations at its Peñasquito mine, following an illegal blockade by a trucking contractor that began September 26, 2016. Goldcorp recently undertook efforts to diversify its local transportation supply chain and distribute economic benefits to more local suppliers, while realizing cost efficiencies at the mine.

Mexus CEO Paul Thompson added, “These are exciting times for Mexus. We now have 3 different properties that are at varying levels of discovery and/or near production. I foresee a time in the not so distant future where this company will have 3 producing mines creating outstanding cash flow and return for our shareholders.”

Rafael Gallardo, Senior Geologist of Minera Cascabel S.A. de C.V., who is leading the drill program, commented, “the results that we have received for the first drill hole are very encouraging and I look forward to the results from the other two holes designed to target this zone. The near-surface Au-Ag mineralization we have encountered is typical of epithermal low-sulphidation type deposits found in the area.”

Silver Bull recently commenced an exploration program to target potential sulphide mineralization at depth believed to be underneath and adjacent to, the main zone of mineralization already defined at Sierra Mojada. Deep structures are thought to be the conduits from which the shallow mineralization seen on the project has been emplaced, and are the targets of this program. A number of drill holes have previously intercepted structurally controlled sulphide mineralization such as drill hole “B11144”, which intercepted 8.45 meters at 17% zinc, 5.45% lead, and 60g/t silver starting at 193 meters. In addition, recent underground mapping and sampling identified another area of structurally controlled sulphide mineralization with underground channel samples returning grades up to 690g/t silver, 15.25% zinc, 4.8% lead, and 1% copper.

President Lawrence Page Q. C. stated, “Since Southern Silver joined forces with Electrum in Q4 2015, Electrum has consistently demonstrated its willingness to provide funds and expertise on a timely basis to allow the completion of an initial Resource and to continue exploration to test the extent of the large property while the Resource at the Cerro is expanded and developed. Southern Silver is well funded to continue its programs and we look forward to continuance of a long and fruitful relationship in the development of the Property after earn-in and establishment of a joint venture for the exploitation of the Resource.”